A Chinese company plans to implement an investment project in Fergana for the production of special equipment worth $40 million

The khokim of the Fergana region, Khairullo Bozorov, received the head of the Chinese company ‘‘Shiyan Zhenke Industrial Technology’’, the press service of the regional khokimat reports.

At the meeting, an investment project for the production of special equipment was discussed, which the Chinese company plans to implement in Fergana in two stages.

The meeting was a continuation of the initial negotiations held in Beijing with the management of the ‘‘Shiyan Zhenke Industrial Technology’’ company during the visit of the Fergana region delegation led by the khokim to China in June of this year.

The first phase of the two-phase investment project in Fergana will establish assembly, welding and painting lines with an investment of $20 million, and will produce 500 special vehicles per year. In the second phase, an additional $20 million will be invested and production capacity will be increased to 100 vehicles per month. It was noted that the project will take 3 years to complete. It is noteworthy that the produced cars will be supplied to the market under a new local brand.

It was decided to continue negotiations after the Chinese side examines the available opportunities in the small industrial zones of the region and the Kokand FEZ to host the project.